The US's Commodity Futures Trading Commission's new rules were passed by a slim majority of three to two and met with much chagrin as those opposing the changes threatened legal action. But with its position limit levels set wide, how will the reforms actually affect investment banks?
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Can the UK stage its own shale gas revolution?
December 1, 2011The UK is reported to be sitting on enough shale gas to cover its gas consumption for more than 60 years. But unlike the US, concerns surrounding mineral rights, a greater population density and its impact on the environment means pushing ahead with exploration is easier said than done.
Ireland’s sole survivor offers eurozone funding hope
December 1, 2011Bank of Ireland avoided nationalisation against the odds, and has even managed to obtain wholesale funding via bilateral transactions. BoI group treasurer Sean Crowe explains the formula.
Russia's central bank governor happy with hands-off approach
December 1, 2011Russian central bank governor Sergei Ignatiev's decision not to intervene when the country's currency came under pressure earlier this year has been welcomed by economists as a sign that the country's commitment to a more open economy is genuine. The governor explains to The Banker that such a policy is part of his long-term plan for the country.
Mitsubishi UFJ-Morgan Stanley joint venture takes shape
December 1, 2011Morgan Stanley's joint venture in Japan with Mitsubishi UFJ Group has been criticised by competitors as a concession to MUFG for its huge investment in the US bank at the height of the financial crisis. However, Jonathan Kindred, CEO of MSMS, one of the companies formed by the joint venture, is adamant that the long-term benefits of the move will prove the critics wrong.
Vickers gives bank treasurers a splitting headache
December 1, 2011Some UK bankers are warning that ring-fencing deposits in the largest banks will drive up capital and funding costs. However, there are those, including some major investors, who claim that the opposite may turn out to be true.
Vickers report leaves investment banking shrouded in uncertainty
December 1, 2011The proposals by the UK's Independent Commission on Banking are likely to change investment banks’ business models in the country fundamentally. The biggest effect could be to increase their funding costs, which might force more UK companies to turn to bonds instead of loans. But plenty of questions remain unanswered.
BAML CIB co-head takes comfort in deal dominance
December 1, 2011Revenues may be down but market share is up for Bank of America Merrill Lynch's corporate and investment banking division. This is giving its global co-head, Christian Meissner, cause for optimism going into 2012, despite the tough markets in Europe and Asia.
Panama's president means business
December 1, 2011With an economy on the rise and an influx of new foreign investment, Panama's businessman-turned-president Ricardo Martinelli is planning to push on with taking advantage of the country's location and expanding the Panama Canal, as more ships look to transport goods between the Atlantic and Pacific oceans.
Iranian investment banking market is still left wanting
December 1, 2011Since awarding the first dedicated investment banking licence in Iran in 2007, the country's Securities and Exchange Organisation has moved slowly, granting only two more licences despite the proliferation of banks looking to expand into the space. But licences are not the only thing lacking in Iranian investment banking; the dearth of large private companies and investment banking expertise is also stunting its growth.